Method and apparatus for promoting use of a financial product

Abstract

A system, method, apparatus, means, and computer program code for efficiently promoting use of a financial product (e.g., credit card). According to embodiments of the present invention, an entity may receive information regarding past responses by recipients of one or more prior promotional communications. From this and other data regarding the recipients, statistically significant variables can be determined that can be used to indicate future responses by potential recipients of other promotional communications and likelihood of obtaining a desired response from different groups of recipients.

The embodiments of the invention in which an exclusive property or privilege is claimed are defined as follows:  
     
         1 . A method for identifying recipients of a communication regarding a financial product, comprising: 
 determining a plurality of segments from a plurality of potential recipients of a communication regarding a financial product, wherein each of said plurality of segments includes at least one member of said plurality of potential recipients and has an associated response rate, wherein a segment's associated response rate is indicative of a member of said segment exhibiting a designated behavior after receiving said communication;    determining at least one criterion associated with said communication regarding a financial product; and    determining at least one of said plurality of segments that may be used to satisfy said at least one criterion.    
     
     
         2 . The method of  claim 1 , wherein said determining a plurality of segments from a plurality of potential recipients of a communication regarding a financial product includes at least one of the following: 
 receiving demographic information regarding at least one of said plurality of potential recipients;    receiving credit history information regarding at least one of said plurality of potential recipients;    receiving lifestyle information regarding at least one of said plurality of potential recipients; and    receiving credit performance information regarding at least one of said plurality of potential recipients.    
     
     
         3 . The method of  claim 1 , wherein said determining a plurality of segments from a plurality of potential recipients of a communication regarding a financial product includes at least one of the following: 
 determining a score for at least one of said plurality of potential recipients based on designated variables, said score being indicative of said at least one of said plurality of potential recipients exhibiting said designated behavior; and    determining responses by at least some of said plurality of potential recipients to at least one previous communication regarding said financial product.    
     
     
         4 . The method of  claim 1 , wherein said determining at least one criterion associated with said communication regarding a financial product includes receiving data indicative of said at least one criterion.  
     
     
         5 . The method of  claim 1 , wherein said determining at least one of said plurality of segments that may satisfy said at least one criterion includes at least one of the following: 
 selecting segments that provide a response rate required by said at least one criterion;    selecting segments that provide a recipient pool size required by said at least one criterion; and    selecting segments of members to which said communication can be sent for a cost less than a maximum cost required by said at least one criterion.    
     
     
         6 . The method of  claim 1 , further comprising: 
 determining a response rate for at least one of said plurality of segments.    
     
     
         7 . The method of  claim 1 , further comprising: 
 determining an indicative characteristic for at least one of said plurality of segments.    
     
     
         8 . The method of  claim 1 , further comprising: 
 providing said communication.    
     
     
         9 . The method of  claim 1 , further comprising: 
 providing a notification regarding at least one of said plurality of segments that may satisfy said at least one criterion.    
     
     
         10 . The method of  claim 1 , wherein said communication comprises at least one of the following: 
 an email message;    an instant message communication;    a letter;    an electronic signal; and    a message sent to a postal address.    
     
     
         11 . The method of  claim 1 , further comprising: 
 determining said at least one criterion.    
     
     
         12 . The method of  claim 1 , further comprising: 
 determining said designated behavior.    
     
     
         13 . The method of  claim 1 , wherein said designated behavior includes at least one of the following: 
 use of said financial product;    incremental use of said financial product;    purchase of a product with said financial product;    signing up for a credit card; and    agreeing to accept a credit card.    
     
     
         14 . The method of  claim 1 , wherein said designated behavior includes at least one of the following: 
 incremental use of said financial product over non-recipients of said communication.    
     
     
         15 . The method of  claim 1 , wherein said financial product includes at least one of the following: 
 a credit card; and    a debit card.    
     
     
         16 . The method of  claim 1 , further comprising: 
 determining information regarding at least one of said plurality of potential recipients.    
     
     
         17 . The method of  claim 16 , wherein said determining information regarding at least one of said plurality of recipients includes at least one of the following: 
 receiving a list of at least two of said plurality of potential recipients;    receiving demographic information regarding at least one of said plurality of potential recipients;    receiving credit history information regarding at least one of said plurality of potential recipients;    receiving lifestyle information regarding at least one of said plurality of potential recipients; and    receiving credit performance information regarding at least one of said plurality of potential recipients.    
     
     
         18 . The method of  claim 1 , further comprising: 
 determining use by at least one of said plurality of potential recipients of said financial product.    
     
     
         19 . The method of  claim 1 , wherein said at least one criterion includes at least one of the following: 
 a desired minimum response rate to said communication;    a desired minimum recipient pool size;    a desired maximum recipient pool size; and    a maximum allowable cost associated with said communication.    
     
     
         20 . The method of  claim 1 , further comprising: 
 determining said plurality of potential recipients.    
     
     
         21 . The method of  claim 1 , further comprising: 
 selecting said communication.    
     
     
         22 . The method of  claim 1 , wherein said communication includes an offer regarding said financial product.  
     
     
         23 . A method for providing a communication regarding a financial product, comprising: 
 providing a first communication regarding a financial product to a plurality of recipients;    determining a plurality of segments of said plurality of recipients, wherein each of said plurality of segments includes at least one of said plurality of recipients;    determining at least one criterion associated with a second communication regarding said financial product;    determining at least one of said plurality of segments needed to satisfy said at least one criterion; and    providing said second communication to at least one member of said determined at least one of said plurality of segments.    
     
     
         24 . The method of  claim 23 , wherein said providing a first communication regarding a financial product to a plurality of recipients includes at least one of the following: 
 emailing said first communication to at least one of said plurality of recipients;    mailing said first communication to at least one of said plurality of recipients;    sending said first communication to at least one of said plurality of recipients via an instant message communication;    sending said first communication to at least one of said plurality of recipients via a wireless transmission; and    sending said first communication to at least one of said plurality of recipients via and email message.    
     
     
         25 . The method of  claim 23 , wherein said providing said second communication to at least one member of said determined at least one of said plurality of segments includes at least one of the following: 
 emailing said second communication to at least one of said plurality of recipients;    mailing said second communication to at least one of said plurality of recipients;    sending said second communication to at least one of said plurality of recipients via an instant message communication;    sending said second communication to at least one of said plurality of recipients via a wireless transmission; and    sending said second communication to at least one of said plurality of recipients via an email message.    
     
     
         26 . The method of  claim 23 , further comprising: 
 selecting said first communication.    
     
     
         27 . The method of  claim 23 , further comprising: 
 selecting said second communication.    
     
     
         28 . The method of  claim 23 , further comprising: 
 determining a characteristic indicative of at least one of said plurality of segments.    
     
     
         29 . The method of  claim 23 , wherein a segment includes a person in said plurality of recipients that has an indicative characteristic associated with said segment.  
     
     
         30 . A method for promoting a financial product, comprising: 
 providing a first communication regarding a financial product to a plurality of recipients;    determining a plurality of segments, wherein each of said plurality of segments includes at least one member of said plurality of recipients and has an associated indicative characteristic, wherein a segment's associated indicative characteristic is indicative of a member of said segment exhibiting a designated behavior after receiving said first communication;    determining at least one criterion associated with a second communication regarding said financial product;    determining at least one of said plurality of segments needed to satisfy said at least one criterion; and    providing said second communication to at least one member of said determined at least one of said plurality of segments.    
     
     
         31 . A method for providing a communication regarding a financial product, comprising: 
 determining a plurality of segments, wherein each of said plurality of segments includes at least one member of a plurality of potential recipients of a communication regarding said financial product and has an associated response rate, wherein a segment's associated response rate is indicative of a member of said segment exhibiting a designated behavior after receiving said communication;    determining at least one criterion associated with said communication regarding said financial product;    determining at least one of said plurality of segments needed to satisfy said at least one criterion; and    providing a notification regarding said at least one of said plurality of segments needed to satisfy said at least one criterion.    
     
     
         32 . The method of  claim 31 , further comprising: 
 providing said communication to at least one member of said determined at least one of said plurality of segments.    
     
     
         33 . A method for providing a communication regarding a financial product, comprising: 
 determining a plurality of segments, wherein each of said plurality of segments includes at least one member of a plurality of potential recipients of a communication regarding a financial product and an associated score indicative of a member of said segment exhibiting a desired behavior after receiving said communication;    selecting at least one of said plurality of segments to provide said communication; and    providing said communication to at least one member of said determined at least one of said plurality of segments.    
     
     
         34 . A system for determining a recipient of a communication regarding a financial product, comprising: 
 a memory;    a communication port; and    a processor connected to said memory and said communication port, said processor being operative to 
 determine a plurality of segments from a plurality of potential recipients of a communication regarding a financial product, wherein each of said plurality of segments includes at least one member of said plurality of potential recipients and has an associated response rate, wherein a segment's associated response rate is indicative of a member of said segment exhibiting a designated behavior after receiving said communication;  
 determine at least one criterion associated with said communication regarding a financial product; and  
 determine at least one of said plurality of segments that may be used to satisfy said at least one criterion.  
   
     
     
         35 . A computer program product in a computer readable medium for determining at least one recipient of a communication regarding a financial product, comprising: 
 first instructions for identifying a plurality of segments from a plurality of potential recipients of a communication regarding a financial product, wherein each of said plurality of segments includes at least one member of said plurality of potential recipients and has an associated response rate, wherein a segment's associated response rate is indicative of a member of said segment exhibiting a designated behavior after receiving said communication;    second instructions for identifying at least one criterion associated with said communication regarding a financial product; and    third instructions for identifying at least one of said plurality of segments that may be used to satisfy said at least one criterion.